The Blockchain’s decentralized nature allows for increased speed and efficiency in supply chains through real-time processing, monitoring of goods movement and secure storage.

Digital identity is very important in our digitally interconnected world where almost every company needs to identify its clients before any exchange takes place. However, sharing information about oneself has become a bit problematic with the current systems we use (e.g., banks). Blockchain technology enables users to store their identity on multiple servers which can provide increased security and anonymity if required by the user by simply removing that particular server off the list.

Sony Global Education, a company of Sony Corporation, has recently submitted a patent application for a blockchain repository for securing school records of people such as courses, test scores, diplomas, and more, like a digital transcript.

Besides using blockchain technology to improve the effectiveness of healthcare providers, some companies bet that adding fitness and dietary elements to the system will give patients a holistic view of their progress towards reaching their health goals.

The blockchain ledger also provides a platform for what we call responsive, open data.’ According to McKinsey and Company’s 2013 report, open data — free government-sourced data available to all Internet citizens — may enrich the world by $2.6 trillion.